Sales just keep plugging along in our area of the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy. Last week there were 28 residences that went from active to pending status. Of these, 25 were single family homes and 3 were townhouses/condominiums.
Of these sales, the list price ranges were:
Less than $200,000 = 1 sale (3% of total)
$200,000 - $500,000 = 16 sales (57% of total)
$500,000 - $800,000 = 8 sales (29% of total)
$800,000 - $1,200,000 = 3 sales (11% of total)
As of December 14, 2008, there are 668 residential listings active on the market in Morgan Hill, San Martin and Gilroy, and 231 pending residential listings. Therefore, 26% of the total listings are pending under contract as of this date, still a healthy number for this time of year. Many of the pendings are short sales and therefore take a long time to close. This could keep our pending percentage up artificially high.
Tune in next week for an update on the number of sales in South Santa Clara County!
http://southcountyrealestatetoday.com/2008/12/15/south-county-sales-week-of-december-8-14-2008/
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